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I have read online that they have some trouble retaining associates because they stop following the Cravath pay scale after third year. Is there a commensurate work-life balance to make up for the below market pay scale?

Current F&L associate, not NYC though. Can't speak specifically to the New York office, but I'd have to say that the worklife balance of the other offices is generally seen as the benefits that makes up for pay scale compression. That being said they still pay good money in major markets and especially in their secondary markets. I have to say so far pretty pleased with the workload, the pay, and the people. Like every big law firm out there, there are nuances that make Foley annoying but from my experience it's been great so far.

I completely agree with the poster above. I am a first year at a different office and so far, I have really enjoyed my experience.

Anonymous User wrote:I have read online that they have some trouble retaining associates because they stop following the Cravath pay scale after third year. Is there a commensurate work-life balance to make up for the below market pay scale?

Edited -- Was trying to joke around. After a second read, I see that it was not apparent.

Anonymous User wrote:

Anonymous User wrote:I have read online that they have some trouble retaining associates because they stop following the Cravath pay scale after third year. Is there a commensurate work-life balance to make up for the below market pay scale?

Isn't foley generally known as the firm you go to if you had no other options?

Don't be an asshole.

Incoming 1st year at F&L, major market (that also pays market). Was wondering if any of you could speak to the bonus structure? I've heard anything ranging from '1st years don't get stub bonuses' to 'Foley plays way below market bonuses' but wondering if anyone could shed some light on that.

FWIW, I also got the sense from associates that work-life balance was better, but no way to reality check that.

RaceJudicata wrote:

Anonymous User wrote:

Anonymous User wrote:I have read online that they have some trouble retaining associates because they stop following the Cravath pay scale after third year. Is there a commensurate work-life balance to make up for the below market pay scale?

Isn't foley generally known as the firm you go to if you had no other options?

Don't be an asshole.

Don't be an anon asshole. Vote for outing this idiot.

Curious as to why that individual would think foley has that reputation? I've always heard good things about it. Any thoughts?

Anonymous User wrote:Curious as to why that individual would think foley has that reputation? I've always heard good things about it. Any thoughts?

I read that earlier and all I thought was wow that is a really rude thing to say. That's my thought. If you're lucky enough to work at a firm that pays well and has any semblance of a good work life balance... I dk, imo that seems pretty nice.
edit: also hey rude person don't "joke around" as you call it behind anon? K cool glad we had that talk.

I have been opposite two Foley offices in transactions and I thought they did a fine job and seemed to have a better work-life balance then we did (V5 NY). Now in saying this, I think our partner was better (more informed, won more pts for our client, etc.) and my mid-level opposites in both deals didn't have as many transactions under their belts but were very capable and, compared to most lawyers, were a joy to work with.

I have had similar experiences to the above poster (I am V-10 NYC). I actually know many friends who had Foley as their number one choice.